Malta

Paradise Papers: BJP MP hauls Indian Express up!

(This is a reprint from NewsBred)

Bharatiya Janata Party Rajya Sabha MP, Ravindra Kishore Sinha, has sought Privileges Proceedings against top brass of Indian Express, namely, (a) Vivek Goenka, chairman; (b) Rajkamal Jha, chief editor; (c) Ritu Sarin and (d) Shyamlal Yadav on its “motivated attempt to tarnish his reputation” via expose on “Paradise Papers” on November 6, 2017.

In a letter written to Venkaiah Naidu, Chairman, Rajya Sabha, published as an advertisement in newspapers on Wednesday, Sinha has accused Indian Express of “unethical journalism…in the name of freedom of the press.”

Indian Express had alleged that Sinha was “illegally associated with (a) an offshore company, viz SIS Asia Pacific Holding Limited (SAPHL), incorporated in Malta; (b) that his nomination papers of Rajya Sabha election in 2014 didn’t declare his interest in offshore entities.

In his detailed letter/advertisement, Sinha has pointed out

  • Malta has an approved jurisdiction of full Double Taxation Avoidance Agreement (DTAA) with India and doesn’t amount to “tax evasion, money laundering or any malafide intent”;
  • His holding company recently underwent “in-depth scrutiny by the Securities and Exchange Board of India (SEBI)…covering all regulations, including the Companies Act, Income Tax Act, SCRA, Stamp Act, FIPB, FEMA etc…no deficiency was found in terms of compliance.”
  • Rajya Sabha nomination form requires only “provisions of details of Assets and Liabilities of which I am the owner or direct beneficiary” which is not true in Sinha’s case (see the full advertisement in pic).

Sinha’s anguish stems from a clearly “vested interest” of Indian Express in publishing the report—and a sneering a mocking version of it online—which he termed as “misleading and devoid of facts,” despite Sinha having shared the details with Indian Express !

Over to Sinha:

“These facts were transparently shared with the Indian Express team prior to publication of the news report. Despite that, they have carried the misleading report devoid of facts and indulged in reputation assassination for vested interests.”

“If the Indian Express claims to be the beacon of independent journalism, why are they not targeting other reputed public figures such as Sachin Pilot, P. Chidambaram, Pinarayi Vijayan etc who have all been named in the ICU Paradise Papers?”

“The Indian Express report is unethical journalism in the name of freedom of the press/freedom of speech and is motivated attempt to tarnish my reputation built over decades. It is extremely sad to see the high standards of neutral and independent journalism set by Ramnath Goenka being destroyed under the current editorial leadership.”

In one word: Damning!!!

One doesn’t know if Sinha tried to put this advertisement in Indian Express for it’s not in its today’s edition. Or, if he did and failed in his attempt. Still, the matter is now in public domain and Express would’ve to come up with an explanation.

At least the Privilege Proceedings against Indian Express is being sought for. Whether Editors’ Guild of India reacts to it is a guess as good as yours as mine. Press Council of India, a Central Statutory Authority, under the Ministry of Information and Broadcasting—Mrs Smriti Irani being at the helm—surely should step in as Fake News in Mainstream Media—Lutyens’ Media—is more rampant than ever.

Does Europe have a future?

Does Europe have a future?

The very question signifies a collective entity and in that sense, the answer is an emphatic NO.

The presumption that it also includes Russia and its borderlands—strictly Ukraine, Belarus, Moldova, Georgia, Armenia, Azerbaijan—was already a NO before the question was asked.

Physically, Russia and its borderlands are part of Europe but never considered such by Western Europe or for that matter United States. The subservient  mass media ensured it remained the “other” Europe.

Know your Europe, folks.

But this official Europe—defined as a unit by European Union (EU) and Euro—is finished. You could have a chance to offer a formal digital condolence in years to come though within your heart you know its dead.

This seed of destruction was sown in the hubris following the demise of Soviet Union in the 1990s. Both US and Europe wanted to run the world. Their democracy, institutions, trade rules, all stood vindicated. This model needed replicating. They thus sowed the wind and are now reaping the whirlwind.

This urge for prototypes led to the creation of European Union. Originally six countries had come together to produce and market steel and coal. But the Maastricht Treaty (1992) led to an overreach which now has 28 members in its fold. The creation of a single currency Euro followed before the 90s were out. The idea was to create a supranational entity with the vision of a political union somewhere in future.

This was the original mistake. European Union had been formed to ride over nationalism. But its new Eastern members had just been out of the Soviet Union umbrella. They wanted more of nationalism. Any decision could become victim of a single veto. Any progress was thus stalled from its very inception.

The EU bosses also hadn’t factored in the mood of citizens who could hold their governments in a bind. More than two-thirds of EU citizens were found by PEW Research Centre to distrust EU.  Nearly 70 percent Europeans believed their voices didn’t count in EU.

Tigers and sheeps have an existential issue inside a wall.  They never live in harmony, but for in Disney. Germany’s GDP is  hundreds of times bigger than that of a Malta. Sweden and Latvia are no match. The hierarchy—and thus the distrust—became obvious. The notion of equality was shown the first door.

The creation of Euro was an original sin. It’s basis was the vision of a future political union–It wasn’t an economic decision by far. All the bosses wanted was a solid integration of history’s “bad boy” Germany into the fold. They also wanted to match dollar.  But without political cohesion, it was a no-go from the start.

Ironically, the clever-by-half bosses felt a crisis could actually help forge the political union. They actually welcomed such a situation. Common banking and fiscal policies were thought to usher in a supra-central bank. They just believed a crisis would throw up a solution but had no idea what it could be.

Then came the 2008 financial meltdown. It’s been over seven years now. The deck is still on fire and attempt to douse it by papering over the Euro hasn’t worked. While they worked on saving the boat, a storm raged in not too far-away horizon of Middle East by way of wars and terrorism. Arab Springs, China, Russia, Syria all chipped away at the base. European capitals became unsafe, refugees came flooding in, paranoid and xenophobia bared its fangs.

The paralysis further eroded the confidence in Europe’s future. Germany first welcomed and then withdrew from the refugee problem. Hungary only wanted Christians. Fellow EU members (Croatia vs Hungary for instance) chirped away at each other.

This official Europe had further shot itself in foot on Ukraine. They offered moon to Ukraine but didn’t want to make allowance for Russia’s insecurity at its border. Ukraine almost has now turned into a failed state. As Henry Kissinger famously said: “both(East and West) want to make it an outpost for themselves—whereas it should’ve been a bridge”—or words similar to that effect.

Citizens again were in a disconnect on Ukraine. While Russia was drummed up as a threat, the polls showed that only 4 out of 10 Germans conformed to the viewpoint. And here’s the interesting bit: More than half in Germany, France and Italy believe NATO shouldn’t use weapons against Russia to defend other nations. As Stephen P Malt famously said: “It’s not a message you want to hear if you are an Estonian.”

Simply put, EU wants a European first and a French later. The public view is diametrically opposite. Schengen Visa, an admirable move, is in tatters. The demographic implosion is at hand. Europe’s population is declining at an alarming rate. So is the staggering 25 percent unemployment on average in Eastern and Southern Europe.

If another round of Greek crisis erupts in future—which it would given the austerity regime imposed on it—then all hell would break loose. If Greece quits, EU and Euro could unravel rather quickly.  Europe, as it is, is rather uneasy at United States’ “Pivot to Asia.” Not to forget their preoccupation with Syria and Middle East. Their big daddy United State is unhappy on its own part given how eager France and Germany are to sell military hardware to Beijing. The track record of NATO—with its debris in Afghanistan, Iraq, Libya—hasn’t boosted the morale either.

The biggest challenge above all is Europeans’ complete distrust of their current rulers. There are no bright leaders like Europe had in Konrad Adenauer and Charles de Gaulle when Europe was trying to stand on its feet after World War II. The rise of far right parties like National Front of Marine le Pen in France could reach a critical mass.

Yes, Europe has an outstanding ability to reconstruct itself. But to do so, it self-destructs itself regularly.